HIVE with HBD: The Standalone Untethred Phenomenon Crypto in the Cryptocurrency Sphere

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When it comes to the protocol-level technicalities of Bitcoin it is known that Satoshi Nakamoto spent the majority of his time designing and testing the capabilities of Bitcoin to be a peer-to-peer digital cash and settlement system without intermediary or backing by any centralized authority or institution. This means a digital currency that is funded and backed by the people who use it instead of any kind of central authority.

Over the years, we have seen how the crypto market has been completely bought over by an institution called Tether with their supposed stable currency called USDT. This currency was designed to have the characteristics of cryptocurrency, only it is backed by the USD, which in turn, is backed by the US Treasury according to some reports. This has sparked a heated debate about the viability of Tether and the lack of accountability which therefore put the said stablecoin under the control and influence of a decentralized entity.

It is on record that iFinex the company that owns Tether is a centralized entity. This means the downfall of Tether will be the doom for many crypto users, a similar scenario to the LUNA UST crash which led to the demise of LUNA. This brings us to the topic of this article: HIVE with HBD: The Standalone Phenomenon in the Cryptocurrency Sphere.

I think it's time for the world to know about the UNTETHERED nature of HIVE with HBD and how it takes the stability power away from Tether. HIVE with its HIVE Backed Dollar (HBD) is the only true untethered crypto asset available in the market, and that's why it's so appealing for market participants to know about it, to avoid a possible run on their assets.

Understanding How HBD Makes HIVE Untethered

HIVE Backed Dollar (HBD) is an instrumental aspect that adds to HIVE's uniqueness. It is a stable, liquid crypto embedded in the Hive network. HBD has been designed to be pegged to the US Dollar - that is, its valuation aims to be equivalent to the USD. However, it doesn't align itself to be "tethered" or connected to any backing asset.

With HBD HIVE has deliberately veered away from the common tethering trend and for good reasons.

Traditionally, for a cryptocurrency to be "tethered", it implies it uses the Tether stable asset USDT and other USD-backed stablecoins to conduct its operations. Stable assets help market traders to maintain a steady valuation of assets against extreme market volatilities. However, a stable asset that relies on another entity deviates from the core essence of crypto autonomy, decentralization, and freedom.

Money-market funds, which were developed in the 1970s to get around restrictions restricting the number of interest banks could pay depositors, are a better parallel to Tether. Money-market funds blew up in 2008 during the global financial crisis, despite promising to keep the value of their shares at a dollar. Taxpayers in the United States stepped in to prevent a fire sale of their assets and a crash in the market for commercial paper, which is vital to the real economy. A collapse of a stablecoin like Tether might resemble this.

HBD is different because it does not tie itself to any centralized entity or state of being. HIVE with HBD embodies the true spirit of cryptocurrency. HBD maintains a stable approach toward its dollar peg but doesn't rely on a reserve with real-world assets to maintain its stability like other Stablecoins. It is pegged to the USD using an organic, market-driven process, where the system algorithms and community interventions manage the stability. Hence, HBD cannot be controlled by any kind of governmental body or the Reserve, unlike Tether.

Consequently, it is evident how this untethered nature allows HIVE to leverage the full potential of cryptocurrency and blockchain technology without compromising the desired benefits of a decentralized network. It is impressive how HBD allows HIVE to breed the dichotomous worlds of stability and freedom in the crypto sphere.

HBD can directly secure funds for its users without the need for a centralized institutional stablecoin, all done within the Hive blockchain ecosystem. This means a digital currency that is transparent, decentralized, untethered, and autonomous remains free from the control of any individual or entity and can be used as a peer-to-peer currency. This is in stark contrast to most other cryptocurrency projects that use their own stablecoins.

In conclusion, Hive's singular emphasis on core cryptocurrency principles while cultivating an environment conducive to stability makes it a unique force to be recon with in the crypto space. Clearly, HIVE with HBD is well poised to tap into limitless possibilities offered in the digital era, while etching its mark as the only true untethered crypto in the crypto space.

We believe that the technology behind HIVE with HBD will truly change the face of cryptocurrency and give it the competitive edge to be the first decentralization currency that can survive the influence of a centralized entity or the government regulatory system. Any claim that Tether can be relied on as a safety net for crisis protection, transaction of money, or value repository is entirely illusory at this moment and an assertion that should be taken with a grain of salt.

Posted Using LeoFinance Alpha